Waste Management (NYSE:WM) rating reiterated by Morgan Stanley

Morgan Stanley has reaffirmed its maintenance of the rating of the shares of Waste Management (NYSE:WM – Get Grade) in a research report released Thursday, reports Marketbeat Ratings. Morgan Stanley currently has a price target of $175.00 on the business services provider’s stock, up from its previous price target of $165.00.

WM has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft raised its price target on waste management from $157.00 to $167.00 in a Thursday, April 28 research note. StockNews.com upgraded Waste Management from a Buy rating to a Strong Buy rating in a Thursday, April 28 research note. BMO Capital Markets raised its price target on waste management from $164.00 to $169.00 and gave the company a holding rating in a research note on Thursday. Bank of America upgraded Waste Management from an underperforming rating to a neutral rating and raised its price target for the company from $155.00 to $165.00 in a Friday, May 13 research note. Finally, Oppenheimer set a price target of $160.00 on waste management in a Tuesday, July 19 research note. Three analysts gave the stock a hold rating and one gave the stock a strong buy rating. According to MarketBeat, the stock has a Moderate Buy consensus rating and an average target price of $165.57.

Performance of waste management stocks

Shares of WM opened at $164.56 on Thursday. The company has a market capitalization of $68.33 billion, a price-to-earnings ratio of 36.25, a growth price-to-earnings ratio of 2.59 and a beta of 0.78. The company has a debt ratio of 1.83, a current ratio of 0.80 and a quick ratio of 0.76. The company has a fifty-day moving average of $153.22 and a 200-day moving average of $153.69. Waste Management has a 1-year low of $138.58 and a 1-year high of $170.18.

Waste Management (NYSE:WM – Get Rating) last released its results on Wednesday, July 27. The business services provider reported earnings per share (EPS) of $1.44 for the quarter, beating analyst consensus estimates of $1.36 by $0.08. The company posted revenue of $5.03 billion in the quarter, versus analyst estimates of $4.84 billion. Waste Management had a return on equity of 29.67% and a net margin of 10.32%. The company’s quarterly revenue increased 12.3% year over year. In the same quarter last year, the company posted EPS of $1.27. As a group, research analysts expect Waste Management to post earnings per share of 5.55 for the current year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 17. Shareholders of record on Friday, June 3 received a dividend of $0.65 per share. This represents a dividend of $2.60 on an annualized basis and a dividend yield of 1.58%. The ex-dividend date was Thursday, June 2. Waste Management’s dividend payout ratio (DPR) is currently 57.27%.

Insider activity

Separately, director John C. Pope sold 219 shares of Waste Management in a trade dated Monday, July 18. The stock was sold at an average price of $152.19, for a total value of $33,329.61. As a result of the sale, the administrator now directly owns 55,439 shares of the company, valued at approximately $8,437,261.41. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders hold 0.18% of the company’s shares.

Institutional investors weigh in on waste management

Several institutional investors have recently bought and sold shares of WM. Norges Bank acquired a new stake in Waste Management in Q4 for a value of approximately $687,551,000. Caisse DE Dépôt ET Placement DU Québec increased its holdings in waste management by 7,498.0% in the 4th quarter. Caisse DE Dépôt ET Placement DU Quebec now owns 2,005,882 shares of the business services provider worth $334,782,000 after purchasing an additional 1,979,482 shares in the last quarter. Diamond Hill Capital Management Inc. acquired a new stake in Waste Management in Q1 valued at approximately $280,829,000. Aaron Wealth Advisors LLC increased its stake in Waste Management by 15,459.1% in Q1. Aaron Wealth Advisors LLC now owns 1,687,232 shares of the business services provider worth $10,645,000 after buying an additional 1,676,388 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Waste Management by 194.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,217,592 shares of the business services provider worth $192,988,000 after purchasing an additional 804,708 shares in the last quarter. 80.37% of the shares are currently held by institutional investors and hedge funds.

Waste Management Company Profile

(Get a rating)

Waste Management, Inc, through its subsidiaries, provides environmental waste management services to residential, commercial, industrial and municipal customers in North America. It offers collection services, including the collection and transport of waste and recyclable materials from their place of generation to a transfer station, a material recovery facility (MRF) or a disposal site; and owns, develops and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.

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